[Bank of Japan Holds Steady as Expected, Analysts: Potential Rate Hike in Coming Months if Wage Negotiations Are Optimistic] Jin10 News, March 19 – Many analysts predict that if Japan's annual wage negotiations (preliminary results to be announced next week) are as strong as expected, the Bank of Japan may raise interest rates in the coming months. Policymakers will receive more comprehensive data in April, including the Tankan business sentiment survey and opinions from the Bank of Japan's regional branch managers. Overnight swap markets indicate that investors estimate a roughly 60% chance of a rate hike by the Bank of Japan in April. Marcel Thieliant, an economist at Capital Economics, pointed out that compared to the risk of oil price costs potentially suppressing economic growth, the Bank of Japan seems more concerned about the price risks brought by rising oil prices. Yusuke Matsuo, an economist at Mizuho Securities, is slightly more cautious, predicting that the Bank of Japan will wait until June or July, partly because Prime Minister Sanae Takaichi leans more toward accommodative monetary policy. Investors are now awaiting comments from Bank of Japan Governor Kazuo Ueda on the tensions in the Middle East and the possibility of Japan falling into stagflation.